Friday, June 19, 2015

Luxury Compounds and CU Kiddie Condos - This Week's Fresh Listings

37 listings hit the Boulder real estate market this week. We culled the refreshed listings, the grossly overpriced, the bad layouts, and the marginal locations.   

These twelve are worth seeing. 

To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896.



Single Family Homes


755 7th Street | $2.8MM | More Details
This one is pretty spectacular, even to our jaded eyes. Gorgeous updates and hike half a block and you're on the best trails in Boulder. Outdoor living spaces, the indoor outdoor transition, and proximity to open space help anchor the valuation. The owners paid $1.3 for this 13 years ago. Here's what it looked like back then. Hard to believe it's the same house.

Note: With respect to valuation, there were 16 sales in the $2.0MM to $2.5MM range during the last twelve months. 11 homes are in current inventory (3 under contract, 8 available) and the average negotiated discount was 4.9% from asking.   
If you're buying or selling real estate in Boulder, get the facts on market conditions. It's not a seller's market at all price points and locations. If your agent insists otherwise, get a better agentSign up for our latest research report. The new edition will be published this weekend. 



750 7th Street | $1.2MM | More Details

Love the location, but want to update the property to suit your taste? This one is a solid bet with good bones. The lot size is decent, the layout is functional, and it's been well tended.    

Remember: When the market gets bubbly, seek safety by focusing on real estate in well tested, highly desirable locations. If past real estate cycles are a guide, this one should hold it's value nicely in the long term. 




2745 Iliff Street | $850K | More Details

Another functional house in a solid location, this time near highly desirable South Boulder schools. Has had some system updates in recent years. Due diligence tip: check this one carefully for flood damage and proper mitigation.  











1815 Yaupon Ave | $825K | More Details
Far North Boulder is set for major improvements in coming years. The Armory is the major catalyst for an improving retail mix, and with a the included Ecopass, it's an easy trek downtown. Currently tenant occupied (lease ends July 31), so no interior photos and 24 hour showing notice is strictly enforced.  












816 Ithaca Drive | $640K | More Details
Boulder's best public schools, mostly North/South orientation, and on a quiet street. It's likely underpriced.  

Negotiation tip: In this price range, 40% of the homes sold for over asking during the last twelve months and 70% of the inventory is under contract. 








4405 Burr Place | $595K | More Details
Roll up your sleeves, this one needs some work. The good news is that the location is fairly well buffered from Foothills. Vaulted ceilings and skylights are a benefit and bring in lots of natural light. 












2805 Elm Ave | $475K | More Details

Hard to believe a basic 3 bed, 1 bath Martin Acres house with mild updates is now approaching $500K. The location of this one in the neighborhood is a little rental heavy, but the heated studio in the garage balances it out.    









Attached Dwellings

4714 Longview Lane #2F | $550K | More Details
Here's what we love about Northfield: The design is very intelligent with lots of storage and functional layouts. They're newer, so more energy efficient and require less maintenance. The downside is an unproven location with no nearby retail. As one of my runner friends recently reminded me, the location is only about 1.5 miles from retail but for some, that might still be a bit of a jog. 









2850 E College Ave | $313K | More Details
Here's the deal. Landmark Lofts is directly adjacent to the University. It has exceptionally high student density and is mostly investor owned. If you're a student or a parent of a student, this is a reasonably smart investment play - depending on whether or not junior is on the five plan. For those seeking a long term home, there are better options.   One bedroom units are also the hardest to resell and often cash flow poorly. Be aware of road noise from 28th Street. 








4990 Meredith Way | $285K | More Details
From an investment perspective, this one makes more sense than 2850 E College, but it's not as nice. The second bedroom is where the advantage comes to play. It's also closer to a nice little retail plaza. Built in the 80's, garden level, and ready for the next owner. 








695 Manhattan #103 | $200K | More Details
Decent price for a 2 bedroom CU kiddie condo. The complex is decently maintained. The grocery store and bike path are nearby. It's only a short jog to the University. The smartest of the four attached dwellings worth seeing, but far from the most livable. 













3969 Pinedale | $675K | More Details
UNDER CONTRACT












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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend rigorous due diligence and professional advice before buying or selling real estate.

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